UBS Group Reiterates "Neutral" Rating for Skechers U.S.A. (NYSE:SKX)

UBS Group reissued their neutral rating on shares of Skechers U.S.A. (NYSE:SKX - Free Report) in a report published on Tuesday morning, Marketbeat.com reports. UBS Group currently has a $63.00 price objective on the textile maker's stock, down from their previous price objective of $64.00.

Several other brokerages also recently issued reports on SKX. Monness Crespi & Hardt decreased their price target on Skechers U.S.A. from $85.00 to $70.00 and set a "buy" rating for the company in a report on Friday, April 25th. Stifel Nicolaus decreased their price objective on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. StockNews.com cut shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Barclays reiterated an "equal weight" rating and set a $63.00 price target (up from $53.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Finally, Raymond James decreased their target price on Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Skechers U.S.A. currently has an average rating of "Hold" and a consensus target price of $70.00.

Skechers U.S.A. Stock Performance

Shares of Skechers U.S.A. stock traded up $0.04 during trading on Tuesday, reaching $61.50. The company's stock had a trading volume of 6,087,343 shares, compared to its average volume of 2,917,491. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The business's 50-day moving average price is $53.40 and its 200-day moving average price is $62.07. Skechers U.S.A. has a 52 week low of $44.50 and a 52 week high of $78.85. The firm has a market cap of $9.19 billion, a PE ratio of 14.82, a P/E/G ratio of 1.11 and a beta of 1.06.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its earnings results on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, topping the consensus estimate of $1.17 by $0.17. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the firm earned $1.33 earnings per share. The business's quarterly revenue was up 7.1% on a year-over-year basis. Equities analysts forecast that Skechers U.S.A. will post 4.47 earnings per share for the current year.

Insider Buying and Selling at Skechers U.S.A.

In other Skechers U.S.A. news, CFO John M. Vandemore sold 5,112 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $310,605.12. Following the completion of the sale, the chief financial officer now directly owns 83,328 shares in the company, valued at approximately $5,063,009.28. This trade represents a 5.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark A. Nason sold 12,046 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $66.08, for a total value of $795,999.68. Following the transaction, the executive vice president now directly owns 25,675 shares in the company, valued at approximately $1,696,604. The trade was a 31.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 218,245 shares of company stock valued at $13,452,902 in the last 90 days. Insiders own 24.78% of the company's stock.

Hedge Funds Weigh In On Skechers U.S.A.

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Skechers U.S.A. by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker's stock valued at $843,474,000 after buying an additional 82,143 shares during the last quarter. Victory Capital Management Inc. increased its stake in Skechers U.S.A. by 15,774.3% during the first quarter. Victory Capital Management Inc. now owns 3,949,844 shares of the textile maker's stock worth $224,272,000 after acquiring an additional 3,924,962 shares during the last quarter. Anomaly Capital Management LP grew its stake in shares of Skechers U.S.A. by 51.2% in the fourth quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker's stock valued at $200,981,000 after buying an additional 1,011,815 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Skechers U.S.A. by 7.6% during the 1st quarter. Bank of New York Mellon Corp now owns 2,482,980 shares of the textile maker's stock worth $140,984,000 after buying an additional 174,697 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Skechers U.S.A. by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 2,294,976 shares of the textile maker's stock valued at $154,361,000 after purchasing an additional 78,071 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors.

About Skechers U.S.A.

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.